Ripple News Today – XRP is Currently Heavily Inflated As the Price Struggles to Hold the $0.2000 Level – May 23rd, 2020

May 23, 20200

Stats Show that XRP Inflation Rate is on the Rise and this Might be Affecting the Price

XRP Community Blames Ripple for the Rising Inflation

Ripple XRP May Fall Below the Support at $0.2000 Before the end of the Weekend

Ripple News Today – As long as money has been in existence, inflation has always been a factor that affects the supply. Cryptocurrencies aren’t left out from suffering inflation since they are forms of money just like fiat. However, in the cryptocurrency industry, Bitcoin and Ethereum are the most common sufferers of inflation due to their circulating supply. The latest statistics have shown that XRP is currently suffering from inflation and this may be primarily part of why the price of the token is trending negatively.

Ripple News Today – XRP Price Has Been Falling Because of Inflation

Over the last few months and even years, XRP has been trading in negative territory. Many factors are influencing this negative price action but one of the most significant is inflation. There is too much XRP in circulation at the same time and it isn’t matching the demand for the token. So, the price is falling. The XRP community is blaming Ripple for the increasing circulating supply of the token. Ripple controls more than 60% of the total XRP that was created. From time to time, they sell these tokens to fund their projects.

Ripple has received major criticism and has been forced to reduce the rate of liquidation to satisfy the XRP community. Unfortunately, this hasn’t changed anything. The price of the XRP token is still struggling against the USD. Even when the rest of the cryptocurrency market experiences a bull run, XRP crawls behind. Two weeks ago, when Bitcoin moved near the $10,000 level, the XRP token only managed to move up by a few points hitting the $0.2200. The token faced rejection at this point and fell to the $0.2000 level. The token has held the line at $0.2000 for a long time but it may fall below this level before the end of the weekend if the bears keep pushing.

XRP (XRP) Price Today – XRP / USD

At the time of writing, the price of XRP was $0.2001. It is down by 0.06% against the USD and down by 0.10% against the price of BTC. The trading volume over a 24 hour period is $1,643,940,438 and the market capitalization is $8,831,076,949. The token must hold this level to prevent going back to the $0.1900 level which it struggled to recover from earlier.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.